The Ayala Corporation Then and Now: A Study on the Philippine’s Oldest Business Conglomerate and its Social Contributions

Abstract

For 172 years, the Philippine’s oldest business conglomerate stood sturdily amidst the complexity of the country’s economy. It maintains its position as one of the biggest and most successful corporations in the country. It is one of the most respected as well. The Ayala Corporation is a family-owned company founded in 1834 through a partnership between two wealthy families, the Roxases and the Ayalas. Another wealthy clan, the Zobels, joined the company management through the bond of marriage. Since its establishment Ayala Corporation commenced various programs and projects that benefited not only the company but Philippine society as well. They have always been pioneers in vital industries such as transportation, realestate development, banking, trade and commerce. But perhaps the most familiar among their greatest works is the “miracle" of Makati. The once worthless piece of land was transformed into a bustling and highly urbanized city as planned by the bright minds of the top executives of Ayala Corporation. Once a swampland, Makati became the home of the country's top corporations and tallest skyscrapers. It is indeed an image of progress and modernity. Beyond doubt, the Ayala family marked their niche in business and in urban planning and development. Moreover, the Ayala family’s influence extends to their significant contributions in promoting Philippine art and culture and in social development programs. The Roxas-Ayala and Zobel clan embodies resilience, exceptional ideas and nationalistic goals through the years. Their ingenuity and dedicated participation to promote the country’s development is truly remarkable. This study traces the history of the Ayala Corporation. It discusses the background of the three wealthy families involved in the management of the business conglomerate. Furthermore, the study examines how the Ayalas transformed Makati from a meager agricultural land to a prime business and commercial center that it currently is. The author also took into account the contributions of the Ayalas in the development of Philippine art and culture. Furthermore, the study considers Ayala’s commitment to improve the poor social condition of the country. The author identified various socio-civic programs that the Ayala family started and upheld through the years. Moreover, this study asserts that Ayala Corporation played a crucial role in the economic, social and cultural development of the Philippines. Their success went beyond the success of their business ventures. Through its long history of active participation in building the country, Ayala Corporation continues to be successful not only as a private enterprise but more importantly on account of its social contributions.